Savvy Trades and Investments

[RNsidersbuying]

OMIC .51 - filed their Q4 yesterday. Kinda blah imo...increasing revenue however miles away from any profit, didn't provide guidance, and looks like they're committed to their plan (no close-the-doors-cashout for an easy triple).

Interesting development I see in OMIC's very near future. OMIC must respond to the “Minimum Bid Price Requirement” by July 15, 2024.The company has noted that if they can't meet the $1.00 threshold, they would entertain a Reverse Split. A possible WIN-WIN for a plebian shareholder?? We can be sure management will try every trick in the book to get the pps above $1.00...or...effect an R/S which should be a positive as the strong cash position would remain the same and a consequent higher pps would be much more attractive to investors?

As previously disclosed, on July 17, 2023, the Company received a letter from Nasdaq indicating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1) because the closing bid price per share for the Company’s common stock had closed below $1.00 for the previous 30 consecutive business days (the “Minimum Bid Price Requirement”). In response, the Company filed an application to transfer the listing of its common stock from the Nasdaq Global Select Market to the Nasdaq Capital Market. As a result of the Approval, the Company has been granted an additional 180-day compliance period, or until July 15, 2024, to regain compliance with the Minimum Bid Price Requirement. To regain compliance with the Minimum Bid Price Requirement and qualify for continued listing on the Nasdaq Capital Market, the minimum bid price per share of the Company’s common stock must be at least $1.00 for at least ten consecutive business days during the additional 180-day compliance period. If the Company fails to regain compliance during the additional compliance period, then Nasdaq will notify the Company of its determination to delist the Company’s common stock, at which point the Company would have an opportunity to appeal the delisting determination to a Nasdaq Hearings Panel.

In connection with obtaining the Approval, the Company notified Nasdaq in writing of its intention to cure its deficiency in satisfying the Minimum Bid Price Requirement by effecting a reverse stock split prior to July 15, 2024, if necessary.

The Company intends to continue to actively monitor the Minimum Bid Price Requirement and, as appropriate, will consider available options to resolve any deficiencies and regain compliance.

https://capedge.com/filing/1850906/0000950170-24-005804/OMIC-8K